This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Bifold door is a type of closet door having two or more individual door panels, adjoined with hinges, which operate on a sliding track. This folding mechanism allows doors to support as a door-walls system, which enhances the visual appeal of interiors. These doors require minimum opening and closing space, and suitable for replacement doors. Such doors are used as a patio door, balcony doors, interior dividers, and among others.

High disposable income and rising need for accommodation development are some major factors which are driving the global construction market demand. In addition, growing demand for housing, and rapid urbanization are acting as encouraging factors for global bifold doors market. Moreover, rising demand for residential and non-residential buildings, which is driving demand for repairing the existing infrastructure, is one of the factors fostering the bifold door market growth during the forecast period. Increasing adoption of energy-efficient doors and application of bifold doors are expected to fuel growth of the target market. However, the high costs associated with installation of bifold doors may hamper the market growth. Bifold doors provide assistance in maximizing the space without significant change in the architecture, which is expected to propel bifold doors market growth. In the current scenario, bifold doors are expected to perform multiple functions such as keeping out heat/cold, letting in light, being aesthetically attractive, noise reduction, lower maintenance, and using energy-efficient materials. Latest trend shows that, manufacturer focusing cellular polyvinyl chloride (PVC) bifold doors. Cellular PVC bifold doors were developed as a response to customer requests for wood bifold doors that resist rot.

Among regions, Asia Pacific market is expected to dominate the global bifold doors market over the forecast period with a significant CAGR. Emerging countries such as China and India are expected to grow at substantial growth rate, owing to government initiatives, continued privatization, increasing health, and safety regulation. Growing construction sector and infrastructural investments in developing economies such as India, China, Singapore, Indonesia etc. are expected to support market growth for bifold doors market. Conversely, increase in R&D investments, rise in demand from emerging economies, and advancements in technology will create new opportunities in the industry.

Construction Productivity and Capability Fund (CPCF) announced by the Building and Construction Authority (BCA) and Singapore is investing around US$ 600 million to boost the construction sector which is also estimated to drive the target product demand.

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